Rihanna, please meet your new neighbor.
According to a Tuesday story from The Hollywood Reporter, the 33-year-old billionaire just purchased a home in Beverly Hills for $10 million, which is next door to the one she purchased for $13.8 million just three months before, giving her almost an acre of land in the region.
The Fenty Beauty and Skin founder will have plenty of celebrity neighbors, including Paul McCartney across the street, and Mariah Carey, who has been leasing a residence a few doors down for years, as well as Madonna recently amid the ongoing COVID-19 pandemic.
The Fenty Beauty and Skin founder will have plenty of celebrity neighbors, including Paul McCartney across the street, and Mariah Carey, who has been leasing a residence a few doors down for years, as well as Madonna recently amid the ongoing COVID-19 pandemic.
The half-acre estate sold for $5.1 million to a non-famous couple in 2015, meaning they quadrupled their money by selling to the megastar.
There are four bedrooms, 4.5 bathrooms, and little over 3,500 square feet of living area.
The actual house is in the Tudor style, with formal dining and living rooms.
There’s also a family area that leads to an eat-in kitchen.
Outside appears to be the ideal location for entertaining, with a large backyard complete with a swimming pool and terraced section of lawn.
According to The Hollywood Reporter, the Fenty Beauty and Skin founder now owns nearly an acre of land with more than 11,000 square feet of residential space, two swimming pools, and off-street parking for at least ten automobiles.
Rihanna was believed to have paid $13.8 million for the gorgeous neighboring Beverly Hills mansion last month.
The five-bedroom home, which has an open-air courtyard, is set on a private and verdant cul-de-sac in the highlands on a huge 21,958-square-foot property and was originally built in the 1930s.
The mansion was also originally owned by Mary Sheldon, the daughter of I Dream of Jeanie writer Sidney Sheldon.
Daniel Starr, who paid $4.3 million buy the estate from Sheldon, documented his renovations on Bravo’s Million Dollar Listing.
.
The purchase occurred just one week after she announced plans to expand her fashion and beauty business to include a range of haircare products and accessories called Fenty Hair.
She registered a trademark for a variety of new products in early March, including relaxing equipment, waxing, straighteners, curlers, and hair coloring preparations.
According to the application, the new product line will comprise non-medicated dandruff shampoo, hair restoration treatments, and hair glitter.
Her unconfirmed business plan comes after she recently halted production on her Fenty fashion brand, which debuted in May 2019.
In February, LVMH stated in a statement that the brand, based in Paris, would be ‘put on pause’ pending better conditions – a rare blow for the luxury business, which has fared better than other competitors in the COVID-19 pandemic.
Rihanna, who was dubbed the world’s richest female musician in 2019, is believed to be’sad’ about the decision, but her popular Savage X Fenty lingerie line, cosmetics labels Fenty Beauty and Fenty Skin will continue.
According to The New York Times, her underwear brand generates roughly $150 million in revenue but is not profitable at the time.
According to WWD, Fenty Skin’s e-store sold $30 million in less than four months.
According to Forbes, Fenty Beauty made $570 million in revenue in 2018.
The singer launched her beauty collection at Sephora three years ago, with sales exceeding $100 million in the first few weeks.
When asked about Fenty last October, LVMH’s finance chief Jean-Jacques Guiony described it as a “work in progress.”
‘We are still in the launch phase, and we need to figure out exactly what the proper offer is,’ he continued. It’s not going to be easy.’
Fenty Fashion has 1 million followers on Instagram, Savage x Fenty by Rihanna has 4 million, and Fenty Beauty by Rihanna has 10.6 million. Fenty Skin has 852,000 followers on Instagram.
Fenty, called after the singer’s full name, Robyn Rihanna Fenty, was intended to complement the singer’s collaborative cosmetics venture with LVMH by offering a full line of apparel, shoes, and accessories.
.
However, the line was expensive – nearly $1,000 for a padded denim jacket and $810 for a corseted shirtdress – and did not create the same level of attention as her earlier lines.
In a statement, LVMH and Rihanna stated, ‘LVMH and Rihanna reaffirm their goal to concentrate on the expansion and long-term development of the Fenty ecosystem, focusing on cosmetics, skincare, and lingerie.’
Savage x Fenty, the singer’s lingerie line, just raised $115 million in funding sponsored by private equity firm L Catterton, which is affiliated with LVMH.
LVMH did not clarify on why Fenty was put on hold, but after a large launch and debut collection, the company kept a low profile and never followed up with major marketing events, even before the COVID-19 incident.
Its Instagram profile had not been updated since January 1 and there had been no new clothing releases since November of last year.
